Tungsten West plc has raised £6.95 million from placing convertible loan notes (CLNs) as part of its fundraise of up to £9m for Hemerdon tin-tungsten mine in Devon. LIABILITIES The company said that the conditional placing with investors was oversubscribed. Tungsten West still has to hold an open offer to raise up to a further […]
Month: November 2024
JOG agrees 50% farm-out with NEO for Greater Buchan
Jersey Oil & Gas plc (JOG) has agreed a 50% farm-out with NEO Energy for the Greater Buchan area (GBA) licences in the North Sea. TRANSACTION TERMS The GBA comprises P2498 and P2170 licences, which contain the Buchan oil field, the J2 and Verbier oil discoveries and a number of exploration prospects. JOG said that […]
Parkmead notes start of gas production from LDS-01
The Parkmead Group plc has noted the start of gas production from the new LDS-01 discovery on the Drenthe VI joint venture licence in the Netherlands. LDS EXPLORATION The company has six Netherlands licences with a number of low-risk exploration prospects. The LDS exploration project, within the Drenthe VI licence (7.5%), involves drilling two to […]
Ascent plans maintenance and operational work at Petišovci JV
Ascent Resources plc said it expected to start maintenance and operational works on well PG-11A on the Petišovci joint venture tight gas project, onshore Slovenia. REVIEW The company holds 75% of the JV and partner Geoenergo has 25%. Ascent will begin work once it receives the payments and revised documentation reflecting the impact of the […]
Block makes final salary sacrifice award
Block Energy plc has ended its salary sacrifice scheme, which involved the award of options instead of wages or fees, following the company’s improved finances. CAPITAL The scheme was introduced in April 2020 after the Brent price collapsed and “operational issues” due to the global Covid-19 pandemic. Block aimed to preserve capital and ensure completion […]
NAE in talks over proposed deal for Lochinvar
New Age Exploration Ltd (NAE) said it was in several talks on a proposed deal for the Lochinvar coking coal project on the border of Scotland and England. LOCHINVAR The Australian group owns 100% of three contiguous exploration and conditional underground mining licences known as Lochinvar, Lochinvar North and Lochinvar South. A resource of 111 […]